Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
1003180 | Research in International Business and Finance | 2011 | 13 Pages |
Abstract
This study provides evidence of the value creation of different equity entry modes in a sample of international investments performed by all Italian medium-sized listed firms in the period 1986–2006. Our research shows a positive and significant market reaction to announcements of internationalization strategies. The results are largely affected by high-equity entry modes carried out in advanced economies. Low-equity entry modes and international operations performed in emerging countries show no significant market reaction. We also find that the relative size of the deal, the firm age, the country risk, and the evolution of information disclosure regulation, matter in explaining the outcomes.
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Business and International Management
Authors
Ottorino Morresi, Alberto Pezzi,